PANTERMUEHL SHERI L 4
4 · ASHFORD HOSPITALITY TRUST INC · Filed May 19, 2020
Insider Transaction Report
Form 4
PANTERMUEHL SHERI L
Director
Transactions
- Award
Special Limited Partnership Units
2020-05-15+140,625→ 170,069 totalExercise: $0.00→ Common Stock
Footnotes (4)
- [F1]Special long-term incentive partnership units ("LTIP Units") in Ashford Hospitality Limited Partnership, the Issuer's operating subsidiary ("Subsidiary"). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.
- [F2]The LTIP Units reported herein were issued as an annual award under the Issuer's 2011 Stock Incentive Plan after the Reporting Person's re-election to the Issuer's Board of Directors.
- [F3]Neither the LTIP Units nor the Common Units have an expiration date.
- [F4]Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in Amendment No. 5 to the Seventh Amended and Restated Agreement of the Limited Partnership dated December 13, 2017.